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Somerset 08873
80 Gates Road
$800,000
● House - Off Market

80 Gates Road

Franklin Twsp, NJ 08873
bedrooms
4 Beds
bathrooms
2 Baths
square feet
1,794 Ft²
$5,360
Est. Monthly
2.71%
Cap Rate

About This Property

The value is in the land. Possibilities abound on this 5+ acre property. Expand the existing home or sub-divide the lots and build a new home. Buyer would be responsible for any sub-division approvals. Home offers a lot of privacy on a dead end street. This property offers easy access to Route 287, 22, 27,1 and 18 as well as Rutgers University, 2 hospitals, corporate centers and local shopping.
Unit Size
1,794 Ft²
Days on Market
243 days
Land Size
5.30 acres
Price per sqft
$496
Property Type
House
Property Taxes
$994
HOA Dues
-
Year Built
1955

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 12 months ago (CJMLS #2511452R)

Price History

Date / Event Date Event Price
Dec 1, 2025 Sold
Premium
Sold
Sep 29, 2025 In contract -
In contract
Aug 26, 2025 Price Decreased $889,000
↓ $106K (10.7%)
Price Decreased
Apr 2, 2025 Listed by BHHS FOX & ROACH REALTORS $995,000
Listed by BHHS FOX & ROACH REALTORS

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1955
  • Effective Year Built: 1955
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 1,500
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 230,868
  • Total Building Area: 1,794
  • Gross Building Area: 1,794
  • Building Area: 1,794
  • Building Area Measurement: T

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,794
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: E
  • Land Acres: 0000005300
  • Standard Land Use Code: 9000
  • County Land Use Code: 15F
  • Legal Description 1: FACILITY NAME: WID/DISABLED VETERAN

Neighborhood

  • School District Name: Franklin Township School District
  • Census Tract: 054302

Zoning

  • Zoning: R20

Geography

  • Assessors Map Reference: TAX MAP 78
  • District: 08
  • Parcel: 08 00386- 08-00074- 03
  • Block: 386.08
  • Lot: 74.03
  • Municipality: FRANKLIN TWP
  • Latitude: 40.5005
  • Longitude: -74.5076

    Address

  • Full Address: 80 Gates Rd
  • Address - House Number: 80
  • Address - Street Name: Gates
  • Address - Suffix Type: Rd
  • State: NJ
  • City Name: Somerset
  • Carrier Code: C005
  • 4-Digit Zip Code: 2258
  • Zip Code: 08873

Valuation

    Tax

  • Tax Year: 2021
  • Tax Amount: $0

    Market Valuation

  • Market Total Value: $510,137
  • Market Land Value: $337,553
  • Market Improvement Value: $172,584

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $515,800
  • Assessed Land Value: $341,300
  • Assessed Improvements Value: $174,500

    Exemptions

  • Veteran Exemption: Yes
  • Widow Exemption: Yes
  • Disabled Exemption: Yes
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Somerset

Stats & Trends

Median Asking:

$574,500

Sale Price/ft²

$331

Below Asking

0.01%

Average Days on Market

60

Average Home Size

800 ft²

Average Home Age

49.9 years

Currently For Sale

56 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 86 Bayberry Drive, Franklin Twsp, NJ, 07416

$3,200 /mo

  • 2 Beds
  • 2 Baths
  • 1,325 ft²
86 Bayberry Drive, Franklin Twsp, NJ, 07416 Listing by SHINA KALOTY
Unit for rent at 130 Winchester Way, Franklin, NJ, 08873

$3,500 /mo

  • 2 Beds
  • 2 Baths
  • 1,336 ft²
130 Winchester Way, Franklin, NJ, 08873 Listing by CAROL ROWE MAIR

Rentals Near You

Click here to view more rentals in the neighborhood.
CJMLS

Listed by: NICOLAS J. DIMEGLIO
BHHS FOX & ROACH REALTORS
Last Updated: 12 months ago
Data Source: CJMLS , MLS# 2511452R

Frequently Asked Questions

When was property at 80 Gates Road built and last sold?
The property at 80 Gates Road was built in 1955 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 80 Gates Road is $884,497.
What are some comparable homes to 80 Gates Road?
There are currently no comparable homes to 80 Gates Road.
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